FoodBud
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RankingsInsightsMixue SeriesArchiveMethodologyDataSearch中文
FoodBud

Global foodservice chain intelligence. Every figure should link back to a source.

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Company card

TAB Gida Sanayi ve Ticaret A.S.

Medium
Groupest. scale

Borsa Istanbul TABGD.IS · Europe

Listing status
listed
Operating model
Franchise / master franchise
Scale basis
GMV / system sales
Confidence
Medium
Segment
qsr multi brand

High-value edge-Europe benchmark for Burger King/Popeyes/Arby's/Sbarro and local QSR formats.

Scale basis note

Terminal transaction scale across the network. Useful for franchise reach, not the same as listed-company revenue.

Compare this operator
Every number has a source row

Metrics below keep source tier, quality, period, and source link visible at the metric level.

Source tiers
S1Official primary — filings, annual reports, prospectuses
S2Official secondary — IR decks, transcripts
S3Supplementary — vetted media, databases
S0Not usable — flagged, never published

Source tiers — S1 official primary · S2 official secondary · S3 supplementary · S0 not usable. Open “Provenance” on any number for its tier, basis, precision, and do-not-use note.

GMV is not revenue

GMV/system sales, revenue, and royalty pool sales are separate scale bases. Screening proxies are directional only.

MetricValuePeriod / basisQualitySource
Stores
Reported restaurant, coffee shop, tea shop, bakery, or comparable chain units.
2,030 stores
FY2025 (year ended Dec 31, 2025): The Group is operating in the quick service restaurant sector with 2.030 restaurants as of December 31, 2025. … As of 31 December 2025, the Group has a total of 2.030 open restaurants. The number of franchise restaurants in the total number
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · The Group is operating in the quick service restaurant sector with 2.030 restaurants as of December 31, 2025. … As of 31 December 2025, the Group has a total of 2.030 open restaurants. The number of franchise restaurants in the total number
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Scale
Terminal transaction scale across the network. Useful for franchise reach, not the same as listed-company revenue.
$1.37B
Directional proxy
A2 stale-FX: latest disclosed FY2025 (year ended Dec 31, 2025) TRY 62459000000 (tier S3, source_tier/type not S1/S2 company source (S3/media_or_aggre); stored USD kept — not refreshed (no S1/S2 same-basis FX-verifiable source). Pending company-source/Cowork upgrade.
GMV / system salesTerminal transaction scale across the network. Useful for franchise reach, not the same as listed-company revenue.
Directional proxy
S3 supplementary (opens in new tab)
Media Or Aggregator · Latest disclosed FY2025 (year ended Dec 31, 2025): sistem genelindeki satışlarını (franchise dahil) %52 artırarak 62,5 milyar TL'ye yükseltti — systemwide sales (including franchise) increased 52% to 62.5 billion TL. | stored scale/profit USD may reflect an earlier FY — value/FX refresh pending (sep
Provenance
Tier: S3 supplementary
Source: Media Or Aggregator
Basis: GMV / system sales
Precision: Estimated
Scale per store
Screening proxy: scale divided by store count. It is not audited AUV or unit profit.
$673,039
Screening proxyest.
Derived scale_per_store using scale ÷ store_count at the linked scale basis; not a separately reported company metric.
GMV / system salesTerminal transaction scale across the network. Useful for franchise reach, not the same as listed-company revenue.
Source-backed
S1 official primary (opens in new tab)
Operator Metric Source · Source used for operator metric extraction.
Provenance
Tier: S1 official primary
Source: Operator Metric Source
Basis: GMV / system sales
Precision: Derived
Profit signal
Profit signal from the source period. Read with local accounting and segment mix in mind.
$57.48M
FY2025 (year ended Dec 31, 2025): Net profit for the year [1 January – 31 December 2025]: 2,627,826 [TRY thousands] (prior year 2024: 2,502,226). Earnings per share (TL): 10.06 (2024: 9.58).
Profit-positiveScale basis not specified. Use as a screening signal until a source pack is attached.
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · Net profit for the year [1 January – 31 December 2025]: 2,627,826 [TRY thousands] (prior year 2024: 2,502,226). Earnings per share (TL): 10.06 (2024: 9.58).
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Basis: Profit-positive
Revenue
Source-backed operating metric from the locked research snapshot.
$1.04B
TRY 47.637 billion FY2025 revenue / hasılat.
Revenue proxyRecognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales.
Source-backed
S1 official primary (opens in new tab)
Official Source Pack · GH-097 revenue backfill from hardened master/top100 source. official or operator metric source.
Provenance
Tier: S1 official primary
Source: Official Source Pack
Basis: Revenue proxy
Precision: Source-backed

Market data (listed companies)

Market valuation · fluctuates · not operational scale · do not compare with GMV / system sales. Listed companies only.

MetricValuePeriod / basisQualitySource
Market cap
Public market capitalization captured in the locked source snapshot.
$1.51B
May 22, 2026 (spot date): IST:TABGD has a market cap or net worth of TRY 61.85 billion [as of June 24, 2026]. Shares outstanding: 261.10 million. [At May 22, 2026 rate 45.74 TRY/USD, 261.1M shares × ~264 TRY/share ≈ TRY 68.9B ÷ 45.74 ≈ USD 1.507B.]
Market cap (USD)Scale basis not specified. Use as a screening signal until a source pack is attached.
Source-backed
S3 supplementary (opens in new tab)
Media Or Aggregator · IST:TABGD has a market cap or net worth of TRY 61.85 billion [as of June 24, 2026]. Shares outstanding: 261.10 million. [At May 22, 2026 rate 45.74 TRY/USD, 261.1M shares × ~264 TRY/share ≈ TRY 68.9B ÷ 45.74 ≈ USD 1.507B.]
Provenance
Tier: S3 supplementary
Source: Media Or Aggregator
Basis: Market cap (USD)
Precision: Market snapshot · not operational scale
⚠ Do not use for: Market valuation · not operational scale · never compare with GMV/system sales

Operator profile

8/21 source-backed

Classification, firmographics, ownership and operating dimensions — source-backed where disclosed, marked as a gap (never inferred) where not.

Format & positioning
Cuisine (primary)
burgerS2 official secondary (opens in new tab)
Cuisine (secondary)
chickenS2 official secondary (opens in new tab)
Service model
QSRcompany (opens in new tab)
Price tier
midcompany (opens in new tab)
Company
Founded
1,994company-ir (opens in new tab)
HQ country
Turkeycompany-ir (opens in new tab)
CEO
Gökhan Asokaggregator (opens in new tab)~
Employees
19,254 headcountaggregator (opens in new tab)~
Ownership
Parent
TFI TAB Gıda Yatırımları A.Ş. (controlled by the Kurdoğlu family) owns ~79.91% post-IPO; ~20.1% free floattier1_filing (opens in new tab)
PE / holding
TFI TAB Food Investments was historically backed by PE firm Cartesian Capital Group; current ultimate control is the Kurdoğlu family via TFItier3_aggregator (opens in new tab)~
Recent M&A
not disclosed
Growth
System sales YoY
64%S3 supplementary (opens in new tab)~
Revenue YoY
11%S3 supplementary (opens in new tab)
Net new units
not disclosed
Pricing & digital
Avg check
not disclosed
Digital sales
not disclosed
Off-premise
not disclosed
Loyalty members
not disclosed
Franchise terms
Royalty
13%operator website (combined royalty+advertising+services for BK Turkey sub-franchisees) (opens in new tab)~
Franchise fee
not disclosed
By-market footprint
Georgia
7 storesS1 official primary (opens in new tab)
Georgia
7 stores◑derivedS1 official primary (opens in new tab)
Group total (multi-country)
2,066 stores◑derivedS1 official primary (opens in new tab)
North Macedonia
16 storesS1 official primary (opens in new tab)
North Macedonia
16 stores◑derivedS1 official primary (opens in new tab)
Northern Cyprus
—S1 official primary (opens in new tab)
Turkey
—S1 official primary (opens in new tab)
Turkiye / Northern Cyprus (unsplit)
—S1 official primary (opens in new tab)

Store counts by market/region — footprint context, not a same-basis comparison.

Disclosed store model

disclosed3/3 source-backed

Company-operated vs franchised footprint, AUV and store-level economics — taken verbatim from each operator's own filing, never inferred. A separate axis from company scale and single-store economics.

Total stores
2,030 stores
As of 31 December 2025 (FY2025, 01.01.2025-31.12.2025)
Source-backedS1 official primary (opens in new tab)
Company-operated
1,137 stores
As of 31 December 2025 (FY2025)
Source-backedS1 official primary (opens in new tab)
Franchised
893 stores
As of 31 December 2025 (FY2025)
Source-backedS1 official primary (opens in new tab)

Single-store model

2/2 source-backed

Unit economics are a separate axis from company-level scale — never read as the same number. Each field keeps its source, period, and quality; derived/estimated rows and gaps are marked.

AUV / unit sales
Derived system-sales/store = unit-volume proxy; not a disclosed AUV.
Derived: gmv_or_system_sales_usd 1,366,269,277 / 2,030 stores = ~USD673,039/store.
FY2024_or_latest_L1
EstimatedNeeds source
Company-operated share
Inferred ~0% company-operated (franchise/master-franchise) from model tier.
Model tier "franchise_or_master_franchise" -> inferred company-operated share 0.0.
current
EstimatedNeeds source

Cost structure

5/6 source-backed

Where each revenue dollar goes, latest disclosed year. Slices use each operator's reported base — % of revenue unless the row notes otherwise (% of GMV, restaurant-level, franchise goods-supply COGS). Grey = not separately disclosed. This is a separate axis from company scale and single-store economics.

Food / COGS33.8%
H1-2025S1 official primary (opens in new tab)Source-backed
Turkey BK/Popeyes/Sbarro/Subway franchisee. H1-2025 (closest detailed). Foods&materials 33.8/personnel 20.9/rent 12.6 (IFRS16)/advertising 4.2. Op margin 7.1. Inflation-adjusted TAS29.
Labor20.9%
H1-2025S1 official primary (opens in new tab)Source-backed
Turkey BK/Popeyes/Sbarro/Subway franchisee. H1-2025 (closest detailed). Foods&materials 33.8/personnel 20.9/rent 12.6 (IFRS16)/advertising 4.2. Op margin 7.1. Inflation-adjusted TAS29.
Rent / occupancy12.6%
H1-2025· cash rent 5.5 + ROU amort = 12.6 (IFRS16)S1 official primary (opens in new tab)Source-backed
Turkey BK/Popeyes/Sbarro/Subway franchisee. H1-2025 (closest detailed). Foods&materials 33.8/personnel 20.9/rent 12.6 (IFRS16)/advertising 4.2. Op margin 7.1. Inflation-adjusted TAS29.
Delivery commission—
H1-2025Gap
Turkey BK/Popeyes/Sbarro/Subway franchisee. H1-2025 (closest detailed). Foods&materials 33.8/personnel 20.9/rent 12.6 (IFRS16)/advertising 4.2. Op margin 7.1. Inflation-adjusted TAS29.
Marketing4.2%
H1-2025S1 official primary (opens in new tab)Source-backed
Turkey BK/Popeyes/Sbarro/Subway franchisee. H1-2025 (closest detailed). Foods&materials 33.8/personnel 20.9/rent 12.6 (IFRS16)/advertising 4.2. Op margin 7.1. Inflation-adjusted TAS29.
Operating margin7.1%
H1-2025· groupS1 official primary (opens in new tab)Source-backed
Turkey BK/Popeyes/Sbarro/Subway franchisee. H1-2025 (closest detailed). Foods&materials 33.8/personnel 20.9/rent 12.6 (IFRS16)/advertising 4.2. Op margin 7.1. Inflation-adjusted TAS29.
Not separately disclosed21.4%

Supply chain

4 suppliers · 1 with S1 filing

Who supplies this brand — reverse-extracted from each supplier's own filing (top-customer / related-party disclosure). The % is the supplier's revenue share from this brand (supplier-side, not procurement spend), unless a note says otherwise. Each edge keeps its period, source tier, and audit link; named relationships without a disclosed % are shown as such.

Atakey Patates Gida Sanayi ve Ticaret A.S.BIST:ATAKP
Ingredients
discloses as: TAB Gida Sanayi ve Ticaret A.S.
—named (no % disclosed)S1 filingsource (opens in new tab)
—named (no % disclosed)S2 citedsource (opens in new tab)
Ekmek Unlu Gida Sanayi ve Ticaret A.S.
Bakery
discloses as: TAB Gida Sanayi ve Ticaret A.S.
—named (no % disclosed)S2 citedsource (opens in new tab)
Ekur Et Entegre Sanayi ve Ticaret A.S.
Protein
discloses as: TAB Gida Sanayi ve Ticaret A.S.
—named (no % disclosed)S2 citedsource (opens in new tab)
Fasdat Gida Sanayi ve Ticaret A.S.
Logistics
discloses as: TAB Gida Sanayi ve Ticaret A.S.
—named (no % disclosed)S2 citedsource (opens in new tab)

Peers in this segment

Yum! BrandsGMV / system salesRestaurant Brands InternationalGMV / system salesAmRest Holdings SECompany-operated revenue (proxy)Restaurant Brands New Zealand LimitedRevenue proxy

Same segment — each operator keeps its own scale basis; this is navigation, not a like-for-like comparison.